Ametek and Faro Technologies announced in early May the signing of a definitive agreement under which Ametek will acquire all outstanding common shares of Faro Technologies, for $44 per share in cash. This price represents a premium of approximately 40 % to Faro's closing price on May 5, 2025. The transaction values Faro at approximately $920 million in enterprise value. The Boards of Directors of both companies have unanimously approved the transaction.
Founded in 1981 and headquartered in Lake Mary, Florida, Faro Technologies is a leading player in 3D measurement and imaging, offering portable measuring arms, laser scanners and plotters, software solutions and a full range of services. Faro's precision metrology and digital reality solutions cover a wide range of sectors. The company generates annual sales of around $340 million.
" Faro is an exceptional acquisition for Ametek and a perfect fit with our Ultra Precision Technologies division.says David A. Zapico, Chairman and CEO of Ametek. FARO's differentiated 3D metrology and imaging solutions strengthen our presence in buoyant markets. Its strong brand, global customer base, teams and technologies complement our existing Creaform business, and offer solid prospects for growth and improved margins. "
" We're looking forward to joining Ametek and its portfolio of benchmark technology activities. "said Peter Lau, President, CEO and Board Member of Faro Technologies. Thanks to Ametek's global reach, operational excellence and commitment to innovation, we are in an excellent position to accelerate our growth and continue to deliver leading-edge solutions to our customers around the world.. "
Completion of the transaction is subject to customary closing conditions, including the necessary regulatory approvals. It is also subject to the approval of Faro Technologies shareholders.
The transaction is expected to be finalized in the second half of 2025.
